Has the traditional VC been forced to pivot?

At Venture Shift, VCs from Kleiner, Mayfield, First Round, August Capital, True Ventures

Here's the video of the Venture Shift panel: "Has the traditional VC industry been forced to pivot by the rise of angels, super angels, incubators, etc?"

On this panel, we had Randy Komisar from Kleiner Perkins Caufields & Byers, Phil Black from True Ventures, Raj Kapoor from Mayfield, Rob Hayes from First Round Capital, Howard Hartenbaum from August Capital and Rich Melmon from Bullpen, who moderated.